President Trump on Monday said he has the power to fire Federal Reserve Chairman Jerome Powell said he has no intention to do so.
In an exclusive interview with The Hill, Trump said Powell is “incorrect” that he is entitled to serving a four-year term that expires in 2022.
Asked if he thinks he has the power to remove Powell, Trump said “If I wanted to, but I have no plans to do anything.”
Experts have questioned that assertion.
The president has been fiercely critical of Powell’s stewardship of the central bank, accusing it of hindering economic growth through rate hikes. His constant critiques have roiled observers of the Fed, which is meant to be nonpartisan.
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